Can I keep phone if I decide to drop Verizon?

Please try not to rip me to bad for asking this, but I thought I'd ask anyway because I just don't know the policy on this. I bought my phone off of Amazon a week ago for $49.99 with a new Verizon contract. I know I have 14 days to drop Verizon if I want to without penalty. If I would decide to drop them, do I have to send the phone back to Amazon too or can I keep the phone? I have a strong feeling the answer to that is no, otherwise people would be doing that all the time, just so they could get a phone for cheap and then unlock it and go to whatever network they want. Anyway, just thought I'd ask while I'm still within 14 days. Thanks.